Dataminr combs through 340 million daily tweets on Twitter and its algorithms quickly seize on abnormal and actionable signals that can be analyzed and confirmed as a relevant event for a client. This could be anything from an assassination or general instability in certain countries to government sanctions, natural disasters or on-the-ground chatter about products or trends. Dataminr uses available Twitter metadata along with other contextual factors such as historical and concurrent data to create a mathematical signature for an event, ultimately deciding on the fly whether an event is valuable for decision-making purposes. For example, Dataminr’s clients were alerted 20 minutes ahead of mainstream news coverage of Osama Bin Laden’s death.
“It’s not just that we capture early information, but also where the eyes of the world are pointing. That’s a valuable indicator of what’s happening in the world and where the world will focus in the future,” said Bailey. “We have event detection software that is able to pinpoint specific events going on in the world. Instead of predicting the future, we’re very much predicting the present and giving people better understanding of what’s happening right now. And that has enormous value.”
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Dataminr, a New York-based start-up that has been quietly building a global sensor network powered by Twitter, is now introducing its technology to the public today, showing how its real-time engine c…